by no means restored by his new bargain. This encouragement must
depend, both with regard to the farmer and the landlord himself,
exclusively on the price of produce, compared with the price of
the instruments of production; and, if the price of these
instruments have been raised by taxation, no diminution of rent
can give relief. It is, in fact, a question, in which rent is not
concerned. And, with a view to progressive improvements, it may
be safely asserted, that the total abolition of rents would be
less effectual than the removal of taxes which fall upon
agricultural capital.

I believe it to be the prevailing opinion, that the greatest
expense of growing corn in this country is almost exclusively
owing to the weight of taxation. Of the tendency of many of our
taxes to increase the expenses of cultivation and the price of
corn, I feel no doubt; but the reader will see from the course of
argument pursued in this inquiry, that I think a part of this
price, and perhaps no inconsiderable part, arises from a cause
which lies deeper, and is in fact the necessary result of the
great superiority of our wealth and population, compared with the
quality of our natural soil and the extent of our territory.

This is a cause which can only be essentially mitigated by
the habitual importation of foreign corn, and a diminished
cultivation of it at home. The policy of such a system has been
discussed in another place; but, of course, every relief from
taxation must tend, under any system, to make the price of corn
less high, and importation less necessary.

In the progress of a country towards a high state of